Balancing Maintenance Costs of Replacement Models  
Author Satoshi Mizutani


Co-Author(s) Xufeng Zhao; Toshio Nakagawa


Abstract The optimal expected cost rate of age replacement is better than that of random replacement when the maintenance costs are the same. However, the expected cost rate of random replacement might becomes equal or less than that of age replacement, when the maintenance cost of random replacement is less than that of age replacement. We refer to such a cost as balancing cost. In this paper, we treat some models such as random replacement, random replacement with work N, replacement over time T for age and periodic replacement policies. Numerical examples are given when the working time has an exponential distribution and the failure time has a Weibull distribution.


Keywords Random Replacement, Age Replacement, Periodic Replacement, Balancing Cost
    Article #:  RQD28-171

Proceedings of 28th ISSAT International Conference on Reliability & Quality in Design
August 3-5, 2023